Survey shows 47 pct expects U.S. recession by end of 2022 or early 2023

WASHINGTON, Aug. 22 (Xinhua) -- A National Association for Business Economics (NABE) survey released Monday showed roughly one-fifth of panelists believe the United States is already in a recession, while 47 percent expect a recession to begin by the end of 2022 or the first quarter of 2023.

Some 73 percent of panelists indicate they are "not very confident" or "not at all confident" that the Fed will be able to bring inflation down to its 2 percent goal within the next two years without triggering a recession, according to the lastest NABE Economic Policy Survey.

In March, a record 77 percent of the panel viewed monetary policy as too stimulative. Since then, the Federal Open Market Committee, the Fed's policy-setting body, has approved four consecutive rate hikes, lifting benchmark interest rate by 225 basis points to a target range of 2.25 percent to 2.50 percent.